ez0770 wrote:That's obviously different than TRO's "original" tried and tested method which calls for +/- 4 pips. How did you decide on 10 pips? Do you add the bid/offer spread on top of that? What about cable? What settings do you use for the pound? Thx in advance
I came out with 11 pips by testing it, but mostly is something I feel comfortable with.
For the Wire I used 20 pip for entry and a 20 pips Tp, but I try to set sl to breakeven ASAP. (anyway, i like eurusd much more for BZ)
Its worth saying, that, as mentioned by TRO, is better to look for an edge by only trading long when price is above both the daily open and the weekly open and only trade short when the price is below both the daily open and the weekly open.